Howdy Readers. If you are thinking for fix deposit your money for take double amount after its maturity in minimum times, then you should go to Indian Post Office . The interest rate on Post Office also varies from tenure to tenure and the highest rate for normal citizens is 7.8 per cent for 5-year time deposit. Post Office money double scheme is also known as Kisan Vikas Patra (KVP). SBI cut interest rate on retail fixed deposit by 20 to 25 basis points, with effect from 10th September.Post office term deposit schemes are similar to bank FDs

A post office fixed deposit is an investment scheme that allows one to deposit in fixed deposits by post office in order to earn interest on the investment. Reply Delete Post Office Fixed Deposit Scheme -Investment in post office fixed deposit scheme with a duration of five years is eligible for a tax deduction as per section 80 (C) of the IT Act, 1961. Bank of Baroda Double Dhamaka Fixed Deposit Scheme. News About Fixed Deposit Double Scheme. Bangladesh Post office fixed deposit scheme Currently has been two higher Investment limit, single name for 30 lacks and joint name for 60 lacks and also deducted 10% sources taxes on net profit as it has been applicated from current fiscal year 2019-2020 . Under this scheme, investors can park their money in any post office pan India. Also, the interest remains fixed over the period thus ensuring that the money invested is doubled at the end of the fixed period.

Investors can invest a certain amount for a fixed period for a fixed rate of interest. Bajaj Finance Ltd. offers FDs as low as Rs.25,000. The post office Indian Post is giving double of your amount on Kissan Vikas Patra in 8 years and 7 month. The money is doubled on the interest earned. Post Office Fixed Deposit Rates & Post Office scheme. Post Office Fixed Deposit, officially termed as ‘Post Office Time Deposit Account’, is a government-backed scheme. Bajaj Finance Ltd., one of India’s most trusted Non-banking Financial Companies (NBFCs) which has received the highest credit rating FAAA/Stable from CRISIL and an MAAA rating from ICRA for its fixed deposits.

So your Investment amount to Double when invested into Post Office FD, will require 10 years and 4 months.

The duration of these fixed deposits is 1-year, 2-years, 3-years and 5-years. If post office provide approx 12.5% of interest your money will be double in 5 Year. But current rate of interest is only 7.8% so it take around 9 years to double your money. Bank of Baroda is offering the customers with a fixed deposit scheme where it promises a double return on their investments. The scheme is offered by the Indian postal services, an individual can earn a guaranteed return on the money deposited to a fixed period of time.

Post office 1 year FD prevailing interest rate is 7%. Kissan Vikas Patra is best way for fixed deposit scheme. This Post Office Scheme can double your money; here is how The Narendra Modi Government has recently slashed small savings scheme interest rates but still these schemes are more lucrative than bank fixed deposits. Kisan Vikas Patra is a certification scheme in which invested money gets doubled in around 10 years based on the interest rate. Post Office Time Deposit, also known as Post Office Fixed Deposit, is a fixed deposit scheme similar to bank FD. It is convenient and alternative for the fixed deposits provided by the bank..

Want more money than what Bank Fixed Deposit gives? The post office fixed deposit is also known as a time deposit. The fixed deposit schemes guarantee attractive returns on the investments made and all you have to do is find an appropriate tenure with a fixed interest rate and invest. To open an account in Small Savings Schemes viz Savings Account (SB), Recurring Deposit (RD), Time Deposit (TD), Monthly Income Scheme (MIS), Senior Citizen Savings Scheme (SCSS)submit Account Opening Form (AOF) duly filled in with KYC documents and deposit slip(SB 103) in desired Post Office. It is highly affordable too and thus is a highly preferred option by a big chunk of the populace. The return from POFD is guaranteed and backed by the government of India. ( Don’t go after the name ‘Kisan’, it is not for farmers only, anyone can invest in KVP.)

Transfer ability - Fixed deposit account in post offices are eligible for transfer from one post-office branch to another. So, if you have invested an amount of Rs. However, in case of fixed deposit double schemes, the bank fixes the tenure of the fixed deposit and is not left flexible to the investors.

Under the amendment of the scheme, PAN card proof is compulsory for investments above Rs. It’s depend on rate of interest of post office deposit.

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